Greenland Technologies Holding Corp
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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FY2023 · Filed Apr 16, 2024
GTEC$0.53+8.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income and Comprehensive Income
| For the years ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Revenues | $90,333,240 | $90,830,674 |
| Cost of goods sold | 65,757,237 | 70,995,940 |
| Gross profit | 24,576,003 | 19,834,734 |
| Selling expenses | 2,319,835 | 2,630,226 |
| General and administrative expenses | 6,052,541 | 5,459,020 |
| Research and development expenses | 5,424,400 | 5,786,946 |
| Total operating expenses | $13,796,776 | $13,876,192 |
| INCOME FROM OPERATIONS | $10,779,227 | $5,958,542 |
| Interest income | 143,094 | 56,817 |
| Interest expense | (250,410) | (402,968) |
| Loss on disposal of property and equipment | (31,072) | (1,511) |
| Impairment for investments | (300,000) | - |
| Change in fair value of the warrant liability | 1,398,774 | (2,814,012) |
| Allowance for expected credit loss-related parties receivable | (34,462,992) | - |
| Remeasurement loss from change in functional currency | (2,490,646) | - |
| Government subsidies income | 692,443 | 1,029,370 |
| Other income/(loss) | 1,212,354 | 676,136 |
| INCOME (LOSS) BEFORE INCOME TAX | $(23,309,228) | $4,502,374 |
| INCOME TAX | 1,708,262 | 699,691 |
| NET INCOME (LOSS) | $(25,017,490) | $3,802,683 |
| LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST | (9,138,374) | 3,057,130 |
| NET INCOME (LOSS) ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES | $(15,879,116) | $745,553 |
| OTHER COMPREHENSIVE INCOME (LOSS): | 842,646 | (5,740,161) |
| Unrealized foreign currency translation income (loss) attribute to Greenland technologies holding corporation and subsidiaries | 247,625 | (3,845,818) |
| Unrealized foreign currency translation income (loss) attribute to non-controlling interest | 595,021 | (1,894,343) |
| Total comprehensive loss attributable to Greenland technologies holding corporation and subsidiaries | (15,631,491) | (3,100,265) |
| Total comprehensive income (loss) attributable to noncontrolling interest | (8,543,353) | 1,162,787 |
| WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING: | 13,229,978 | 11,886,876 |
| Basic and diluted | (1.20) | 0.06 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.